Skip to content Skip to Search
Skip navigation

MBC Group sets price range for IPO on Tadawul

The final price for MBC Group shares will be disclosed at the end of the book-building period on December 6 Unsplash.com
The final price for MBC Group shares will be disclosed at the end of the book-building period on December 6

Saudi Arabian media giant MBC Group is planning to raise as much as SAR831 million ($222 million) from the sale of a 10 percent stake on the Saudi stock exchange (Tadawul) after disclosing an indicative price range.

The price range was set between SAR23 ($6.13) and SAR25 per share, the company said in a statement, implying an equity value of between $2.04 billion and $2.22 billion.

The final price will be disclosed at the end of the book-building period on December 6.

The company will offer 33.25 million ordinary shares, representing 10 percent of its share capital.

The net proceeds will be used to repay outstanding loans, boost working capital, expenditure on content development for the video streaming platform “Shahid” and investment in new initiatives.

State-owned Al Istedamah Holding owns a 60 percent stake, while Waleed Al Ibrahim holds the remaining 40 percent.

Following the IPO, the current shareholders will collectively own 90 percent of the company’s share capital.

Established over 30 years ago, MBC is one the largest media and entertainment companies in the Middle East and North Africa region, with its content reaching over 150 million people every week. 

Latest articles

Wind turbines above the village of Kotronas in the Peloponnese region. Greece's Terna Energy invests in wind, solar, hydroelectric and pumped storage projects

Masdar buys Greece’s biggest investor in renewables

The UAE’s state-owned clean energy company Masdar is to acquire a majority share in Terna Energy of Greece. The initial deal – one of the largest in the European renewables market and the biggest ever energy transaction on the Athens Stock Exchange – is for a 67 percent stake. The price of €20 ($21.45) per […]

KBR Iraq

US firm wins $46m contract to boost Iraq infrastructure 

US engineering giant KBR has won a five-year $46 million contract to support Iraq’s infrastructure development and future energy projects, including mega-projects. The company is expanding its presence in Iraq, establishing a new office in Baghdad and said it is also considering the creation of a design centre to enhance local engineering skills. Under the […]

The UAE attracted FDI inflows of $30.7 billion last year, a 35 percent year-on-year growth

UAE ranks second in global greenfield FDI projects

A 33 percent year-on-year surge in greenfield FDI projects in the UAE catapulted the Emirates up two places to the second spot after the US in 2023. There are now 1,323 greenfield FDI project announcements, state-run Wam news agency reported, citing the World Investment Report 2024. The UAE attracted FDI inflows of $30.7 billion last […]

People walk through the souk in Manama, Bahrain; FDI has been encouraged by the golden licence programme for investors

Bahrain attracts a record $6.8bn in foreign investment

Bahrain has set a new record by attracting $6.8 billion in foreign direct investment (FDI) in 2023. This is a 148 percent increase from the previous year’s $2.8 billion, according to the latest World Investment Report by the UN Conference on Trade and Development. Kuwait emerged as the top contributor, accounting for 36 percent of […]